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Category Archives: results
Bugged – BMW EV Software Recall on 14,000 Vehicles
The software misdiagnosis glitch can sporadically occur irregularly within the battery management electronics, which could cause the electronic control unit to reset. If a reset occurs, this could cause an interruption of electrical power. If an interruption of electrical power occurs while driving, it may result in a brief loss of power, or stalling, which could increase the risk of a crash. However, a restart of the vehicle is possible, and would allow for continued driving. The driver would also be alerted by a warning message. Continue reading
Mercedes-Benz Recalls 324,000 Vehicles for Sudden Stalling
Covered are the so-called GLE/ML (166 platform) and GLE Coupe (292 platform) vehicles. “Depending on the amount of water that has entered the spare wheel well, the accumulated water could intermittently contact the fuel pump control unit,” Mercedes said. Continue reading
Posted in customer satisfaction, quality, recalls, safety
Tagged auto industry commentary, autoinformed.com, Ken Zino, mercedes recalls, nhtsa, sudden stalling
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Penske Automotive Group SEC 8K Filing – Cuts Credit Costs
“The U.S. Credit Agreement provides for up to $800.0 million in revolving loans for working capital, acquisitions, capital expenditures, investments, and other general corporate purposes, and provides up to an additional $50.0 million of letters of credit. The U.S. Credit Agreement provides for a maximum of $150.0 million of borrowings for foreign acquisitions and expires on September 30, 2025. The interest rate on revolving loans is LIBOR plus 1.50%, subject to an incremental 1.50% for uncollateralized borrowings in excess of a defined borrowing base.” Continue reading
Posted in auto news, economy, financial results, shows and events
Tagged auto industry commentary, autoinformed.com, Ken Zino, sec
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2022 US Light Vehicles Sales Worst Since 2011
However, December posted the highest volumes of 2022, ahead of March by ~26,000 units. The daily selling rate was estimated by LMC as 47,500 units/selling day, compared to 44,900 units/selling day in November. LMC thinks that shows how the annualized selling rate was affected by the historical seasonality rather than the pace of sales necessarily slowing down. According to preliminary estimates, retail sales totaled around 1,057,000 units, unchanged from December 2021, while fleet accounted for approximately 225,000 units, representing 17.6% of the total market. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc
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GM Canada Sales Up 42% in Q4, 5% During 2022
For EVs, Canadian shipments for the Cadillac LYRIQ have already begun, with the first customer deliveries expected in January. Also launching in 2023 are the Chevrolet Equinox EV, Chevrolet Blazer EV, Chevrolet Silverado EV, GMC Sierra EV, and GMC HUMMER SUV EV. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, EVs, gm canada, Ken Zino
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Toyota Motor North America 2022 Sales Drop Notably
“As the industry closes out 2022, we’re expecting the year to end around 13.9 million SAAR. And for 2023, we’re predicting a SAAR to grow to approximately 15 million. And while we still have many of 2022 challenges carrying into 2023, we’re moving in the right direction, and doing whatever we can to get vehicles to our customers as quickly as possible. So, we’re cautiously optimistic about our future. Now let me turn it over to Andrew to talk about our two brands,” said Jack Hollis, executive vice president of Toyota Motor North America (TMNA) and president of Toyota Motor Sales. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, Jack Hollis, Ken Zino, TMNA
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Stellantis to Make Archer Electric Airplanes
Stellantis now will work on Archer’s recently announced manufacturing facility in Covington, Georgia. The companies plan to begin manufacturing the Midnight aircraft in 2024. Midnight is claimed to be safe, sustainable, quiet and, with an expected payload of more than 1000 pounds. It can carry four passengers plus a pilot. With a range of 100 miles, Midnight is meant for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. All this of course is dependent on The Federal Aviation Administration issuing a type certificate and approving other air worthiness requirements including training and operating limitations. Continue reading
General Motors Posts US Sales Leadership for 2022
General Motors (NYSE: GM) said today that GM and its dealers delivered 2.8 million vehicles in the U.S. in 2022 (+3%), leading the industry in total sales. GM also claimed that it extended its leadership in key market segments including full-size pickups and full-size SUVs.
Industry sales results will be forthcoming during the next couple of days, which will allow for a more nuanced analysis. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, Steve Carlisle
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Ford Claims F-Series Retains Title of Best-Selling Truck in 2022
However, since Ford’s Edsel and Mercury brands are long gone and Lincoln is not in this segment, there is room to debate that General Motors with it Chevrolet, GMC and Hummer pickup lines might sell a greater number of pickups when final sales numbers are in. This also means that Ford Maverick, Ranger, F-150, Super Duty, all the way up to F-750 should also be included in the competitive tally. Continue reading
Posted in marketing, sales
Tagged auto industry commentary, autoinformed.com, Chevrolet, f-150, F-750, gmc, Hummer, Ken Zino, Maverick, pickup up truck sales, ranger, Super Duty
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Mercedes-Benz USA Recalls Sunroofs for Flying Off
This latest recall of a previous recall goes back to December 2017, when Mercedes Benz in Germany launched initial investigations based on what it said were isolated field reports from outside the US claiming that the sliding roof panel detached from vehicles. No damage or injuries were reported as a result of these unsafe incidents.
However, the sliding roof assemblies of the affected vehicles were requested and returned by individual markets, including the US. The returned parts were analyzed by the supplier and an external laboratory. Continue reading
Drowning Risk – Body Glove Tandem Inflatable Paddle Boards
Surf 9 is recalling Body Glove Tandem and ULI Inflatable Paddle Boards because of a drowning risk. The paddle boards were sold exclusively at Costco (Costco item# 2622049), The US Consumer Product Safety Commission said today in a release. Continue reading
Budget Changes EV Rental Terms. Singles out Tesla
“This EV Amendment simultaneously amends the terms of your rental from Budget with respect to the terms herein only. All other terms of your rental remain in full force and effect. In the event of any conflict between the terms of this EV Amendment and your other rental terms, the terms of this EV Amendment shall govern,” Budget said. In other words EVs are singled out. Continue reading
More Fuel Cell Vehicles from CJPT
Since it was founded in April 2021 by Toyota, Hino and Isuzu Motors, CJPT’s goal was “to enable technology development for commercial vehicles by considering initiatives at logistics sites to contribute to achieving a carbon neutral society and reduce the burden on drivers and workers by accelerating the use of autonomous vehicles and systems.” Continue reading
Chevrolet Bolt EVs Recalled for Fires
In the required National Highway Traffic Safety Administration filing made public today, GM said, “This recall will be launched in two phases, under bulletins N222383790 and N222383791. Notification to owners of vehicles that require only installation of the foil barrier is estimated to begin January 30, 2023.
Owners of vehicles that also require installation of the pretensioner cover will begin receiving interim notification on January 30, 2023. GM will provide an owner notification estimate for this second phase once availability of the pretensioner covers can be estimated.” Continue reading
Total Sales Flat in 2022 at 1.6M as Audi Delivers 100,000 EVs
“In a challenging and dynamic environment, our global team once again proved its resilience in 2022,” said Hildegard Wortmann, Member of the Board of Management for Sales and Marketing at AUDI AG. “Thanks to extraordinary team spirit, operational excellence and effective sales control, we were able to close out the business year successfully.”
Audi in a classic public relations move then switched the subject. “Overall, Audi delivered 118,196 electric models to customers last year, which is 44.3% more than in 2021ignoring that such a percentage was possible because of the small base number from which it derived. The business challenge comes from Audi’s previously stated strategy that deems starting in 2026, Audi will only introduce all-electric cars to the global market. Continue reading →